According to WIPOâ€™s information, China has overtaken Japan to claim the second place as a source of Patent Cooperation Treaty (PCT) applications in the passed year. In 2017, U.S.-based applicants numbered 56,624 PCT, followed by China (48,882) and Japan (48,208). Another positive statistics comes from the State Administration of Foreign Exchange, which reveals the volume of trade of Chinese IP royalties totaled 33.384 billion USD in 2017, a 32.7 percent increase from 2016.